AND Ends Transitional Year with a Slight Loss

The year 2003 was dominated to a significant degree by the implementation of the share issue and re-evaluation of the strategy, ultimately leading to a strong focus on the market for "in-car navigation", a market in which companies like Navteq and TeleAtlas are also active. Navteq is currently preparing a flotation and, TeleAtlas, which is already listed on the stock exchange, recently received a capital injection of EUR 175 million for making acquisitions, among other things. The rapidly growing market for in-car navigation is considerably larger than the fields in which AND normally operates. In Europe alone, this market is valued at around EUR 300 million, and is growing at an annual rate of more than 20%.

 

If AND succeeds at becoming the leading data supplier for regions like Eastern Europe, Central and South America, Africa, and a number of countries in Asia, this could lead to considerable revenue and profit growth. A preliminary agreement has already been signed with Siemens and similar contracts are expected with other parties in the course of 2004.

 

AND is refraining from making a revenue and profit forecast until the effects of its new strategy have manifested themselves. 

 

The company has taken cognizance of the final version of the Tabaksblat code, which lays down rules for good corporate governance of listed companies. In the case of AND International Publishers N.V., the adoption of this code creates an added incentive for carrying out a previously expressed desire, namely, to offer shareholders an exit option within the foreseeable future.

 

AND (AEX: AND) is the leading supplier of global geographic data and services (addresses, roads, and routes). These data and services are used in applications like Navigation, Fleet Management/Logistics, CRM, SCM, ERP and Mobile Location Services. Clients include Siemens VDO Dayton, Microsoft, DHL, AOL-Mapquest, Hewlett Packard, IBM and Vodafone.  

AND has its Headquarters in Rotterdam, the Netherlands. It currently employs more than 100 professionals in the Netherlands and India. For more information, visit www.and.com.